Bears are betting more on SpaceX (SPCX.US) stock prices falling, and short selling positions account for about 29% of tradable shares

The Zhitong Finance App learned that as SpaceX (SPCX.US) shares continue to weaken, bears are rapidly increasing their bets. According to the latest data, the current short selling position is close to 30% of the company's tradable shares, and the shorting scale is about 25 billion US dollars. Meanwhile, the market is closely watching the upcoming lifting of the stock ban and the 13th “Starship” test flight. These two major events may become important catalysts affecting stock price trends.

According to S3 Partners data, currently about 185 million SpaceX shares have been shorted, accounting for about 29% of the company's tradable shares, corresponding to a short position size of about 25 billion US dollars.

In contrast, just three weeks ago, SpaceX short sold about 40 million shares, accounting for only about 5% to 7% of tradable shares. This means that in just a few weeks, short positions have risen sharply.

Matthew Unterman, head of research at S3 Partners, said that since SpaceX completed its initial public offering, shorting capital has continued to flow in, and speculative short positions have continued to be established. “We have seen that since the IPO, bears have continued to increase their positions, and the bearish sentiment in the market continues to heat up.”

At the beginning of the listing, SpaceX's stock price showed strong performance, but then the trend weakened markedly. According to the data, the company's stock price fell by about 20% cumulatively in July, and fell below the IPO price of 135 US dollars for the first time on Wednesday. The latest report was about 131 US dollars on Thursday.

One important reason behind the continued increase in bears is that the market is ushering in a period when the stock ban is lifted. According to data from KeyBanc Capital Markets, SpaceX issued only about 5% of the total share capital in this IPO, and the vast majority of the company's approximately 13 billion issued shares are still in the lockdown period.

KeyBanc anticipates that the first large-scale lifting of the ban may occur around the time the company releases its second-quarter earnings report, at which time about 11% of the issued shares will be eligible for sale.

Since then, starting about 70 days after the IPO, the company will also lift the ban on about 4% of the shares in batches, and will further lift sales restrictions based on performance and third-quarter financial arrangements.

Currently, SpaceX founder Elon Musk holds about 42% of the company's shares and will remain locked in until June 2027, which is the company's largest source of restricted shares.

In addition to the lifting of the ban, the market is also closely watching the 13th SpaceX “Starship” rocket test mission. The test flight is scheduled to take place on Thursday. The market generally believes that the test flight results may have an important impact on investor sentiment and stock price trends.

Against the backdrop of stock prices falling below the issue price, short positions rising rapidly, and pressure to lift the ban gradually approaching, the volatility of SpaceX's stock price may increase further for some time to come, and the progress of test flights and subsequent financial reports will be the focus of market attention.